Regulations Governing Identity Verification Mechanism and Transaction Amount Limits of Electronic Payment Institutions Article 13

When an electronic payment institution accepts a non-individual user to register and open a Type 1 e-payment account, its identity verification process shall comply with the following provisions:1. Confirming a payment instrument used by the user.2. Requesting the photocopy or image file of the user's license or certificate, or approval for establishment, and its representative's identification certification. Taiwanese government agencies, public schools, state-owned enterprises, or utility companies and foundations, of which their representatives are appointed by the government according to the law, may be exempted from these requirements.3. Verifying the user’s identity presented by the user’s representative or its authorized agent via over-the-counter review, a certificate complied with the Electronic Signatures Act, or video teller machine.The provisions in Paragraphs 3 of Article 9 shall apply mutatis mutandis to conditions specified in Subparagraph 1 of the preceding paragraph.With respect to the image file of the registration license or certificate, or approval for establishment provided from onshore non-individual users in accordance with Subparagraph 2 of Paragraph 1 hereof, the electronic payment institution shall check the registration records with the Ministry of Economic Affairs, Ministry of Finance, or the competent authorities in charge of user's main line of business.An electronic payment institution shall verify the beneficial owner of the user in accordance with its directions for anti-money laundering and countering terrorism financing.